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India is in touch with U.S. authorities for securing maritime insurance cover from the International Development Finance Corporation (DFC), sources in the government informed on Thursday (March 5, 2026).
Further, to shield the country against any potential impact on fuel availability amid the ongoing conflict in West Asia, India was also in touch with Paris-headquartered International Energy Agency (IEA), global oil suppliers and ministers of oil-producing countries, among others, they said.
“We are also in touch with U.S. authorities for the insurance cover from the [International] Development Finance Corp. The proposal had come from the U.S. government,” they informed.
Essential to note for context, U.S. President Donald Trump had stated in a social media post on Wednesday (March 4, 2026), about seeking to provide at a reasonable price – insurance and guarantees – for the financial security of all energy trade routed through the Gulf.
Further, as part of its outreach to keep supplies secure, the source informed, “The government is also in touch with all major oil suppliers, national oil companies, companies with international portfolios and trading entities [in the oil and gas space] for procurement of crude oil and LPG,” the source stated, adding, “We are also in constant touch with the International Energy Agency (IEA) as well ministers of major oil producing countries.”
‘Not looking at any disruption to LPG, LNG’
Further, the source emphasised that New Delhi was not looking at any disruptions to its supplies of liquified petroleum gas (LPG) and liquified natural gas (LNG). “We [India] are not looking at any disruption [for supplies of LNG and LPG],” they stated.
Specifically with respect to natural gas, they stated that India has lost 60 million metric standard cubic meters per day (MMSCMD) of supply because of the conflict extending to Qatar’s energy infrastructure. For context, following Iran’s attacks on its facilities Monday, the world’s largest LNG producer QatarEnergy halted production, thereafter downstream production (that is, of urea and methanol, among others) and finally called for a forced majeure Wednesday (March 4 ).
India’s natural gas consumption at present is 195 MMSCMD, of which half is imported, with the rest being fulfilled domestically.
Addressing concerns about the impact of the lost quantum, the source in the government assured that farmers and consumers’ interests would not be harmed because of the forced majeure.
“Even if the [worst] situation arises, there are several options we can look at: such as domestic reprioritization among various sectors – which may impact industries a bit, but they would be able to manage because there are alternate fuels available [for them],” they stated, adding, “Farmers and consumers’ interests would be not be harmed, there shall be no problem [for them].”
They added that the government was also looking to scout for LNG from other potential sources. The source said New Delhi was also in touch with the Qatari LNG producer and monitoring developments there. They affirmed that India is “very comfortably placed” with crude oil, with stock being refurbished on a consistent basis.
Published – March 06, 2026 08:53 am IST
